Enter "1" for "# Periods" (recording 1 payment).Because we calculated the payment amount assuming 24 payments, we need to edit row #2: Now we can start recording payments as they are received.The expected, periodic payment is $230.91 Fig.(The "End Date" will be February 16.)įig. In the "Amount" column type "U" for "Unknown" Fig.Enter known payment details in second row.The borrower has agreed to pay the loan back in 24 equal payments due at monthly intervals.If the payment has been agreed to, you can skip to step #8. For this example, we'll assume that the payment has not yet been determined. Frequently, the next step is to calculate the regular, periodic payment amount if you don't already know it.If a frequency is set, it will be cleared when you leave the row Note: Since the number of periods is 1, you will not be able to set a frequency.In row one of the cash flow input area, create a "Loan" series.Enter 5.25 for the "Initial Interest Rate".Set "Initial Compounding" to "Monthly". ![]()
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